Mr. Chair and committee members, thank you for the invitation to be here and to take part in these consultations.
The Business Council of Canada represents the chief executives and entrepreneurs of 150 of Canada's leading companies in all sectors and regions of the country.
Canada's economy faces serious headwinds including an aging population, weak productivity and rising global protectionism. Our economy is barely growing on a per capita basis. Over the past decade we have witnessed growth of around 0.5%. That's half the pace achieved by the U.S. and half the OECD average.
Slower growth over the long run will inevitably mean fewer opportunities for our children and grandchildren, higher rates of unemployment, and less money for vital public services such as health care, education and transit.
To better understand these challenges and to identify solutions, last year the Business Council launched a task force on Canada's economic future, in which we engaged Canadians from across the country to advance policies that enhance growth and ensure a better future for all.
The task force report and recommendation outlines how government business and other stakeholders can work together to strengthen Canada's economic capacity and spur investment for the benefit of all Canadians. At the same time, it calls on employers to enhance Canada's human potential by embracing diversity and inclusion in the workplace, promoting mental health, and supporting a more skilled and innovative workforce.
The report recommends that the government modernize the regulatory environment, prioritize nationally significant infrastructure projects, modernize and simplify the tax system, rethink Canada's foreign policy in a changing world, increase immigration flows to build the future labour force that Canada needs and, finally, develop a national resource and climate strategy.
Of these recommendations, we believe that regulatory modernization has the greatest potential to improve the lives of citizens, drive innovation and enhance business activity across the board.
This is something we heard consistently during our consultations, and we think now is the time for a new approach to regulation in Canada. I am happy to provide some details on that in the question period.
As Canada's largest employers, our members are committed to doing their part to nurture Canada's workforce. That includes increasing labour force participation among indigenous people, encouraging greater diversity and inclusion in the workplace, promoting the adoption of proven mental health strategies, investing in employee learning and development, expanding career opportunities for young Canadians and supporting the next generation of Canadian innovators and entrepreneurs.
Now, I recognize that some of the priorities I have just talked about are what you would expect from the Business Council of Canada. As I said at the beginning of my remarks, we represent 150 of Canada's leading companies, and we recognize that as parliamentarians your focus is on building a better future for all Canadians. That means not just the large companies that we represent but also entrepreneurs, small businesses, indigenous-owned firms and innovators of all kinds. In other words, we challenge ourselves to focus on the broader interests of Canadians today and in the future.
Tomorrow we plan to release a statement in partnership with the Canadian Council for Aboriginal Business, the Canadian Federation of Independent Business, the Canadian Chamber of Commerce and Canadian Manufacturers & Exporters. Collectively, the member companies of these five organizations employ millions of Canadians in every corner of this country and every part of the private sector.
I can tell you from experience that these five organizations don't always agree on the same priorities, but we are coming together because we all recognize that without a healthy and growing economy, our society and our governments will not be able to afford the vital programs and services that Canadians depend on. Without a healthy and growing economy, our children and grandchildren will not be able to look forward to a better future.
I look forward to sharing with you that statement when we release it tomorrow.
Thank you for the opportunity as always, and I look forward to questions.